Advances in medicine and technology is improving our lives in many ways, such as extending our average life expectancy. Consequently, investors should also be adjusting their investment time horizon to match the longer life expectancy outlook.
“What we realized is that life expectancy is growing exponentially. Right now, the average life expectancy is 88, but in the not too distant future, it’s going to be 110 and 120. The key date is 2030 – if you’re alive in 2030, you’ll probably live to 100, 110, 120,” Ric Edelman, Founder and Executive Chairman of Edelman Financial Services, said at the Charles Schwab IMPACT 2018 conference.
Edelman pointed out that scientists and all the bright minds in their respective fields believe many of the major health problems and concerns will be addressed in the years to come – notably that 2030 number, which would lead to improved life expectancy for the citizens of the world.